Electric vehicles fare poorly in the latest reliability study from Consumer Reports, with Tesla Inc. and its battery-powered lineup finishing second-to-last for the second straight year. Only Ford Motor Co.’s Lincoln division was worse, the publisher said Nov. 18.
November 18, 2021BusinessFuel
GM Beats Estimates, Sees 2021 Profit at ‘High End’ of Guidance
General Motors Co. beat analysts’ consensus estimate for the latest quarter thanks to strong performance from its financial unit and a one-time gain, and said full-year results would come in at the “high end” of its previous guidance.
October 27, 2021BusinessEquipmentSafetyFuel
GM Gets LG to Cover $1.9 Billion in Bolt EV Recall Costs
General Motors Co. said it reached an agreement with partner LG Electronics Inc. to recover from the South Korean company $1.9 billion of the $2 billion in costs for a recall of batteries in its Chevrolet Bolt electric vehicle.
October 12, 2021BusinessTechnologyAutonomous
GM-Backed Cruise Sees Autonomous Unit Growing Past $50 Billion
Cruise, the autonomous vehicle startup majority-owned by General Motors Co., will tell investors this week that it sees a path for its ride-hailing business to reach $50 billion in revenue as the company ramps up over the next couple of years, people familiar with the matter said. GM’s shares jumped.
October 4, 2021BusinessTechnologyLogistics
Lordstown to Sell Ohio Plant to Foxconn in $280 Million Deal
Lordstown Motors Corp. agreed to partner with Foxconn Technology Group in a $280 million deal that has the startup selling its former General Motors Co. factory in Ohio to the Taiwanese company in exchange for cash and an equity investment.
September 30, 2021BusinessTechnologyFuelLogistics
GM, Wabtec Agree to Make Electric and Hydrogen-Powered Trains
General Motors Co. and Wabtec Corp. have signed a nonbinding agreement to build locomotive engines using the automaker’s Ultium electric battery and its Hydrotec hydrogen fuel-cell system, the companies said June 15.
June 15, 2021GovernmentBusinessTechnologyFuel
Lordstown Motors Reveals Cash Crisis
Lordstown Motors Inc., an electric-vehicle startup that recently went public, said it may not have the cash to get its debut pickup truck to market — and might not last as a company in the next 12 months if it can’t raise more capital.
June 8, 2021BusinessTechnologyLogistics
GM to Beat Profit Targets as Truck Plants Ramp Up
General Motors Co. will boost output at two truck plants, allowing the company to beat its first-half forecast of $5.5 billion in profit and to hit the high end of its full-year target of around $11 billion.
June 3, 2021BusinessFuel
GM to Build Electric Pickup at Detroit Plant
General Motors Co. is about to enter the electric-pickup battle, announcing April 6 that it will build a battery-powered Chevrolet Silverado model at its Detroit-Hamtramck plant.
April 6, 2021BusinessTechnologyFuel
EV Maker Lordstown Dips on SEC Look at Short-Seller Claims
Electric-truck startup Lordstown Motors Corp. fell in extended trading after reporting it received an inquiry on its operations from the Securities and Exchange Commission.
March 18, 2021